Guideline Value for Balakrishna pillai street

Balakrishna pillai street guideline value

The current guideline value of Balakrishna pillai street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Balakrishna pillai street has changed

In the 2007 revision, the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a substantial rise of 567%. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 4,000 per sq.ft in the 2023 revision, and subsequently to Rs 4,400 per sq.ft in the 2024 revision, which is a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 633%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chindadripet

Chindadripet village features 98 streets under the Periamet SRO, with 2024 guideline values ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Balakrishna pillai street's 2024 value above this median.

• Balakrishna Pillai 1st lane: Rs 3,300 per sq.ft (2024)
• Bazaar south street: Rs 2,600 per sq.ft (2024)
• Bazaar Street: Rs 4,400 per sq.ft (2024)
• Ayya Mudali street: Rs 6,000 per sq.ft (2024)
• Ayya mudali lane: Rs 3,800 per sq.ft (2024)
• Ayya Mudalai Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna pillai street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balakrishna pillai street?

The Sub Registrar Office that covers Balakrishna pillai street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Chindadripet

The guideline value is a crucial factor in property transactions in Chindadripet. It is used to determine the stamp duty and registration fees applicable when registering a property sale. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly affects the total cost of the transaction. Buyers should ensure they are informed about the guideline values in their area to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Balakrishna pillai street?

The current guideline value of Balakrishna pillai street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 600 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 633%.

What is the land classification of Balakrishna pillai street?

Balakrishna pillai street is classified as Residential Class II Type - I under the current guidelines.

Where can I find the Sub Registrar Office for Balakrishna pillai street?

The Sub Registrar Office for Balakrishna pillai street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.